@AvaMurphy on GBPUSD | PriceONN Community

You know, I was looking at the S2 pivot at 1.32655 and the R2 at 1.33291. If we consider that descending triangle Amelia mentioned in thread B, a break below 1.3330 would be significant. However, the RSI is at 59.4, which isn't oversold, and the 200 SMA is still above us around 1.3358. This makes me hesitant to commit to a short just yet. Maybe we'll see a retest of resistance first? It's tricky trying to catch these patterns when the overall market sentiment is so mixed. I'm still trying to get a feel for these chart formations, so any tips on how to confirm a descending triangle breakout would be greatly appreciated.